NEW YORK--(BUSINESS WIRE)--Bragar Eagel & Squire, P.C. announces that a class action lawsuit has been filed in the U.S. District Court for the Southern District of New York on behalf of all persons or entities who purchased or otherwise acquired Cemex, S.A.B. de C.V. (NYSE:CX) securities between August 14, 2014 and March 13, 2018 (the “Class Period”). Investors have until May 15, 2018 to apply to the Court to be appointed as lead plaintiff in the lawsuit.
On March 14, 2018, Cemex disclosed that the U.S. Department of Justice is investigating the Company over payments made by the Company related to a cement plant it is building in Colombia to determine whether any violations of federal bribery laws occurred. Following this news, the price of Cemex’s ADRs fell $0.12, or 1.64%, to close at $7.21 on March 14, 2018.
The complaint alleges that Defendants made false and/or misleading statements and/or failed to disclose that: (i) Cemex executives had engaged in an unlawful bribery scheme in connection with the Company’s business dealings in Colombia; (ii) discovery of the foregoing conduct would likely subject the Company to heightened regulatory scrutiny and potential criminal sanctions; (iii) the Company lacked adequate internal controls over financial reporting; and (iv) as a result, Cemex’s public statements were materially false and misleading at all relevant times.
If you purchased or otherwise acquired Cemex securities and suffered a loss, continue to hold shares purchased prior to the Class Period, have information, would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Brandon Walker or Melissa Fortunato by email at firstname.lastname@example.org, or telephone at (212) 355-4648, or by filling out this contact form. There is no cost or obligation to you.
Bragar Eagel & Squire, P.C. is a New York-based law firm concentrating in commercial and securities litigation. For additional information concerning the Cemex, S.A.B. de C.V. lawsuit, please go to http://www.bespc.com/cemex. For additional information about Bragar Eagel & Squire, P.C., please go to www.bespc.com.